Vacation Money Saving Tips

Open a Dedicated Savings Account.

In most cases the cost to set up the account is free. Using a single, dedicated travel account will also help you keep on budget during your trip by tracking the balance. Once you have the account set up, add an automatic transfer at a regular interval. A transfer of $14/week or $2/day adds up to nearly $730 by the end of a year.

Rent a vacation home.

Renting a house through sites such as VRBO.com, homeaway.com, or Airbnb gets you far more space for your dollar. On average, 1850 square feet versus 325 for a hotel room, according to HomeAway.com. With an average nightly price of $217, the savings can be considerable for larger families that would otherwise have to book multiple hotel rooms. Plus, you’ll save more by cooking your own meals, and avoid any parking costs.

Share a house.

For even larger savings, consider vacationing with relatives or friends. The per-family cost of sharing a large rental house is usually lower and you often get more space for your money.

Let your kids earn their own miles.

Allowing your children to take advantage of frequent flyer programs, you’re opening them up to the ability to receive thousands of miles in rewards— resulting in free trips.